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Gold/Mining/Energy : Southern Metals - SUH.V (formerly Aranlee Res. - ARB.V) -- Ignore unavailable to you. Want to Upgrade?

To: Rick McDougall who wrote (231)	2/5/1998 7:50:00 PM
From: Abner Hosmer	Respond to of 254

Rick - I think you must've found a bug in the SI software. Wonder how in the world you managed to respond to me on the Infocus thread. I guess that ARB one has turned into one of those "long-term holds". I suppose as long as they are not delisted there is some hope for a comeback, yuk,yuk. Maybe there is a copper/gold deposit lurking beneath one of those skree fields out there. I'm still fishing for more info on El Acay And Pairique, I'll let you know if I hear anything. I used to follow PFG but got bored with the mystery after awhile. My longest positions are IPJ and ARP. I'm sort of on the hit-it-big or get-shot-down-in-flames plan. No snow around here. It's been spring all year long so far. Had a week of severe winter in October and that was it. If this is El Nino, I'll take it every year. Usually though, these kind of trends tend to even themselves out over the course of the season. We'll probably be up to our noses in snow all spring. Kind of like mining stocks, if you hang around long enough, you're bound to get creamed. Good to hear from you again. Hang loose and best regards - Tom

To: Rick McDougall who wrote (231)	2/13/1998 6:12:00 PM
From: Abner Hosmer	Read Replies (1) \| Respond to of 254

Well Rick, Some unexpected positive news: Aranlee Resources Ltd - Rio Tinto to drill El Acay property Aranlee Resources Ltd ARB Shares issued 18600000 1998-02-12 close $0.1 Friday Feb 13 1998 Mr Stephen Kay reports Aranlee has been informed that Rio Tinto will commence drilling on the El Acay gold-copper-molybdenum property in Salta province, northern Argentina in late April/early May this year. A preliminary program of approximately 2,000m of reverse circulation drilling will test strong hydrothermal alteration within intrusives and sediments covering an area of about 7km x 4km and will target specific zones with anomalous gold-copper-molybdenum rock and soil samples. Further information will be disseminated as it is received from Rio Tinto. Under the terms of the formal agreement signed in December 1997, Rio Tinto can earn a 100% interest in the property by; a) assuming all remaining option payments to the underlying property owner (totalling US$830,000 over four years; b) spending US$2 million in work expenditures over five years, including a guaranteed US$100,000 in the first year; c) completing a bankable feasibility study within five years; d) at Rio Tinto's election, either paying to the underlying property owner a 0.9% nsr royalty upon commencement of production or buying out the royalty for US$1.0 million within 180 days of completion of a bankable feasibility study; and e) contributing to the property its 100% owned Saladillo concession which partially overlaps onto Aranlee's property. Once Rio Tinto acquires a 100% interest, Aranlee has the right to buy back up to a 40% interest in the combined property within six months of the completion of a bankable feasibility study by paying to Rio Tinto 1.75 times the expenditures incurred by Rio Tinto up to that date pro rated for the percentage interest sought up to a maximum of 40%. If Aranlee elects not to exercise its buy-back right then it will receive a 3% nsr royalty. The non-brokered private placement announced by Aranlee in Stockwatch December 5 1997 has been withdrawn based on current market conditions and a new private placement financing is being arranged. Aranlee had planned to issue a total of 3.25 million shares at $0.20 to provide $650,000. Terms of the new placement will be announced shortly. The Vancouver Stock Exchange has accepted for filing the following submissions: The issuance of 409,289 shares of Aranlee to NDT Ventures at $0.262 per share to satisfy an obligation to pay exploration expenditures totalling $107,233.67. These expenditures represent 50% of the 1996 and 1997 exploration costs incurred by NDT, as operator, on behalf of Aranlee on 17 joint venture properties in the Voisey's Bay area. To issue 50,000 shares of Aranlee to NDT in connection with Aranlee acquiring an undivided 50% interest in 1,565 mineral claims in the Voisey's Bay area. The interest was acquired pursuant to an agreement dated May 26 1995 and this share issuance represents the fourth and final block of the original obligation to issue 200,000 shares. Steven Marsden has resigned as president and director of Aranlee to focus on his other business interests. Stephen J. Kay, currently vice-president and CFO, will replace Mr Marsden as president. Mr Kay is president, CEO and a director of Ecuadorian Minerals Corporation and a director of Arizona Star Resources Ltd. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com

To: Rick McDougall who wrote (231)	2/21/1998 12:44:00 AM
From: Abner Hosmer	Respond to of 254

Well Rick, Don - for what it's worth, the company's new President has thrown a few beans into the mill, insider purchase for 100,000 shares at .09. Does this dog hunt? ARANLEE RESOURCES LTD. KAY, STEPHEN J. 4 0 CM 02-06-1998 10 100,000 0 0.090 100,000

To: Rick McDougall who wrote (231)	2/25/1998 7:47:00 PM
From: Abner Hosmer	Respond to of 254

Aranlee Resources Ltd ARB Shares issued 18600000 1998-02-24 close $0.11 Wednesday Feb 25 1998 The VSE has accepted for filing documentation pertaining to a letter agreement dated October 7 1997, and option agreement dated December 2 1997, (collectively the agreement), whereby Rio Tinto Mining and Exploration Ltd has the option to acquire from the company, a 100% interest in the El Acay gold-copper property 100km west of the city of Salta, northwest Argentina. Under the agreement, Rio Tinto is obligated to: 1.Contribute to the agreement, its 100% owned Saladillo concession adjacent to the El Acay property (collectively combined property); 2. Assume all remaining option payments to the underlying property owner totaling US$830,000 over four years and a cash payment of US$1,000,000 within 180 days on completion of a bankable feasibility study; and 3. Incur US$2,000,000 in exploration expenditures on El Acay and complete a bankable feasibility study over five years. Upon Rio Tinto acquiring the 100% interest in El Acay, the company has the right to buy back up to a maximum 40% interest in the combined property within 180 days of the completion of a bankable feasibility study by paying Rio Tinto 1.75 times the expenditures incurred prorated to the percentage interest sought. If the company elects not to exercise the buy-back right, then a 3% nsr royalty is retained by the company. Further to the VSE notice of May 24 1996, the VSE has also accepted for filing, documentation pertaining to an amending agreement dated October 7 1997, whereby the company and Starcross Properties Ltd have amended their November 16 1995 option agreement. The amending agreement acknowledges the terms of the company's agreement with Rio Tinto and grants the company to exercise its option for the remaining 30% interest in one of the eight properties known as the El Acay property, such that the company holds 100% interest, subject to the completion of a positive feasibility study on El Acay by Rio Tinto. Consideration consists of the issuance 1,600,000 shares of the company to Starcross subject to filing a positive feasibility study acceptable to the exchange. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com

To: Rick McDougall who wrote (231)	4/2/1998 11:44:00 AM
From: Abner Hosmer	Read Replies (1) \| Respond to of 254

Aranlee Resources Ltd - Rumi-Cori JV Aranlee Resources Ltd ARB Shares issued 18600000 1998-04-01 close $0.08 Thursday Apr 2 1998 Also High American Gold Inc (HIAM) Mr Stephen Kay reports Aranlee has signed a letter agreement for a joint venture with High American Gold on Aranlee's 100% held Rumi-Cori gold-copper porphyry proper covering approximately 6,000 hectares in Salta Province, Northwest Argentina. The property is about 135km west of the city of Salta within a relatively new precious metal belt extending for over 300km from the Bolivian border in the north, along the Chilean border, to the Barrick/Pacific Rim Diablillos silver-gold deposit in the south. Rumi-Cori is one of Aranlee's nine precious and base metal porphyry targets in this region. This agreement with High American is the company's second within the mineralized belt during the past few months, the previous one being with Rio Tinto for the El Acay gold-copper-molybdenum property about 80km to the northeast of Rumi-Cori. At El Acay, an initial 2,000m drilling program by Rio Tinto is scheduled to commence in early April this year as reported in Stockwatch February 16 1998. The Rumi-Cori property covers part of an extensive surface alteration anomaly along the Diablillos - Inca Viejo mineralized trend on the eastern flank of a major graben or fault block zone. It is adjacent to High American's Oesteroche gold-silver porphyry prospect, where over 1,300 surface samples reported gold values up to 12.7 g/t in rock samples and 111 g/t in soils related to a tourmaline breccia pipe within an intrusive complex. To date, no sampling has been carried out by Aranlee at Rumi-Cori. Under the terms of the letter agreement, High American, as operator, must spend US$500,000 in exploration expenditures and pay US$250,000 in option payments over a three year period to earn a 70% interest in the property. Once High American has earned its 70% interest the two companies will form a joint venture company, with High American as the operator, to proceed with the development of the property. Should Aranlee elect not to participate in the joint venture company, then it would convert its 30% participating interest to a 1.5% nsr royalty. High American can elect to buy out this nsr for US$1.0 million within one year of making a decision to go ahead with commercial production from the property. Should Aranlee elect to participate in the joint venture company, then standard dilution will apply for non-contribution of funds. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com